Medifast Inc (MED) Shares Bought by Raymond James & Associates

Raymond James & Associates increased its holdings in Medifast Inc (NYSE:MED) by 13.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,569 shares of the specialty retailer’s stock after purchasing an additional 300 shares during the period. Raymond James & Associates’ holdings in Medifast were worth $411,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Meadow Creek Investment Management LLC purchased a new stake in shares of Medifast during the 2nd quarter worth about $110,000. Neuburgh Advisers LLC purchased a new stake in shares of Medifast during the 2nd quarter worth about $152,000. Tyers Asset Management LLC purchased a new stake in shares of Medifast during the 2nd quarter worth about $193,000. Jane Street Group LLC purchased a new stake in shares of Medifast during the 1st quarter worth about $224,000. Finally, Riverhead Capital Management LLC purchased a new stake in shares of Medifast during the 2nd quarter worth about $224,000. 88.25% of the stock is owned by hedge funds and other institutional investors.

MED opened at $205.05 on Monday. Medifast Inc has a fifty-two week low of $60.60 and a fifty-two week high of $260.98. The stock has a market cap of $2.45 billion, a PE ratio of 89.54, a PEG ratio of 2.28 and a beta of 0.31.



Medifast (NYSE:MED) last posted its quarterly earnings results on Thursday, August 2nd. The specialty retailer reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.18. Medifast had a return on equity of 37.25% and a net margin of 10.87%. The company had revenue of $117.30 million during the quarter, compared to the consensus estimate of $101.75 million. During the same period last year, the business earned $0.63 EPS. The business’s quarterly revenue was up 55.0% on a year-over-year basis. As a group, equities research analysts anticipate that Medifast Inc will post 4.5 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Friday, September 21st will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, September 20th. Medifast’s payout ratio is 83.84%.

A number of equities research analysts have recently weighed in on MED shares. Zacks Investment Research raised Medifast from a “hold” rating to a “strong-buy” rating and set a $229.00 price target for the company in a research note on Thursday, August 9th. DA Davidson raised their price target on Medifast to $249.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Finally, ValuEngine raised Medifast from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 4th.

About Medifast

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.

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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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